Iconic Brands Inc (ICNB)

[Joseph Knecht]

In a nutshell, Rich sold 51% of Bellissima LLC to ICNB in exchange for 10 shares of a newly created Class D stock, each of which can be converted into 5.1% of the ICNB common stock outstanding at the time of the conversion.

Needless to say, shareholders better pray that Rich feels like conducting himself honorably.